VANCOUVER, B.C. (FSCwire) - Friday Night Inc. (Friday Night) (CSE: TGIF) (FWB: 1QF) (OTC: VPGDF) is pleased to announce an update of its 91% owned subsidiary Alternative Medicine Association’s activities (AMA) over the past week.
AMA has been focused on putting in place third-party agreements as the most efficient way to increase sales. AMA is pleased with its sales in extracts, oils and various concentrates with many strategic, exclusive relationships already in place. With most popular cannabis brands now wanting a presence in the critical Las Vegas market, AMA is attracting new brand-expansion conversations daily.
AMA recently agreed to produce 700+ ml of high quality distillate to be used by another producer to make chocolate products for Kiva. In addition to that, AMA has signed exclusive license agreements with Vader Extracts, CannaBlends, Guilla Extracts and yesterday AMA added “Krypted”, a very well known and popular vaping brand in California to its Nevada offerings. AMA has also signed a letter of intent with SuicideGirls Cannabis as their exclusive representative.
- Currently, Vader Extracts produced by AMA are sold out and have been consistently selling out when made available.
- Guilla has installed their special extractor, which is on site and is now producing. Their packaging has been approved and first sales are expected to take place by August 25th. Both the AMA and the Guilla teams are currently working on a market roll out plan.
- CannaBlends, owned by Infused Mfg. LLC, also 91% owned by Friday Night, Inc., formulates products including topical lotions and pain relief creams, tinctures and vape pens, all with combined CBD or THC in each product. They continue to build sales and relationships and are well ahead of our initial projections.
- Krypted is the fourth brand added to AMA’s exclusive manufacturing and distribution network. The Krypted team will be in Las Vegas next week for the kick-off meeting and to prepare for the initial production run. AMA has already obtained State approval for their logo and product names and the first sales should occur by September 15th. Terms include making AMA the exclusive manufacturer & distributor in Nevada for an initial term of 3 years, renewable annually after that, with a 15% production royalty. Krypted is providing AMA with all packaging and marketing support.
- SuicideGirls Cannabis line is the fifth recent partner brand. AMA signed the LOI on July 24th and SGC’s representative will be at our facility in Las Vegas on Friday, August 4th to review the final terms and the marketing plan. We expect to be producing SuicideGirls Cannabis products by the end of the month.
- Bellissima Prosecco; the Liquor Control Board of Ontario (LCBO) has approved Bellissima Prosecco DOC Brut for sale in the region; this LCBO placement represents over 40% of the Canadian market and is a big milestone for the brand.
- Lastly, AMA will soon announce the launch of their apparel and merchandise brand on August 15th, which can be seen at AMALIFESTYLE.MYSHOPIFY.COM. AMA has brought on an industry lifestyle branding and marketing veteran to rebrand and establish a comprehensive lifestyle approach that will expand and maximize AMA’s presence within the Vegas market. Friday Night sees AMA as a lifestyle and a global brand that will transcend into multiple business verticals that support AMA’s core business.
With respect to recreational sales, demand continues to increase. AMA’s production items are recognized as highest quality and are in high demand. Construction of the state-of-the-art production facility for Infused MFG is in the final stages and should be ready to occupy by August 15th. A new location and plans for additional cultivation and production are being formulated and further updates will be provided as things progress.
Mark Zobrist, the CEO of AMA stated, “We look forward to our next fiscal year that began on August 1st, 2017, and the new challenges and rewards this year will bring us. With everything going on, we are confident that we will continue to outperform”.
About Krypted Inc
Krypted Inc. is an emerging company in the cannabis industry. Serving the cannabis community is our primary concern; thus we have leveraged e-vape technology to create a new product. Expanding the industry to a new type of consumer who might not necessarily smoke Cannabis regularly, but wants to consume concentrates, the cleaner variation of THC. This can be difficult for many, as there are no easy ways to consume concentrates without sophisticated glass and hardware. By creating an infused e- Juice, we are making it easier than ever for patients in need of potent medicine to find relief. Bridging the gap between patients familiar with vaping and those new to it. After months of searching for the best ejuice company to provide flavors, The Clarity's legendary concentrates, and our in house chemist constantly awing us and striving to improve our product, we are confident that Krypted e-juices will give you an experience like no other product on the market.
About Friday Night Inc.
Friday Night Inc. is a Canadian public company, which owns and controls cannabis and hemp based assets in Las Vegas Nevada. The company owns 91% of Alternative Medicine Association, LC (AMA), a licensed medical and adult-use cannabis cultivation and production facility that produces its own line of unique cannabis-based products and manufactures other third-party brands. Infused MFG, also a 91% owned subsidiary, produces hemp-based, CBD products, thoughtfully crafted of high quality organic botanical ingredients. Friday Night Inc. is focused on strengthening and expanding these operations within and outside of the state.
For further information please contact:
Joe Bleackley, Corporate Communications
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. This news release includes forward-looking statements with respect to the entering into various definitive agreements and market conditions. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including failure to enter into a definitive agreement, inability to attract new customers in Nevada as a result of the licenses, the inability of the Company to take advantage of the license arrangements and various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com. Friday Night undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law or the Canadian Securities Exchange.
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